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CNBC
Dec 5, 2012 1:00pm EST
are trading at $551.33. bob pisani joins me on the floor of the nyse. it started with this idc report citing the fact that they would lose their dominance in the tablet market in probably the next couple of years, and then the margin requirement story. >> it is a little complicated. i just want to address this issue first of the rally that we've got because i think that is sort of what's moving the overall market. there is some vague talk in washington that there may be some republican members starting to break ranks with the leadership on the tax issue. there's talk now that some republicans might be willing to accept higher taxes for the wealthy. this would be a break-through. we're monitoring that. now to what sue was talking about on apple. there are some firms raising margin requirements. i think the main catalyst today was an at&t investor conference where executives of at&t gave sales figures for smartphones for the first two months of the quarter that basically implied sales will be flat for the quarter compared to the same period last year. this includes smartphones, samsung as well
CNBC
Dec 3, 2012 9:00am EST
and a hat for 38 bucks. >> add a cup of coffee and a hot dog. >> while we use the word trousers, bob pisani is here watching what's good morning, bob. >> happy monday, everybody. did you notice the market. nice rally here. again, the market is demonstrated that it believes a deal on the fiscal cliff is coming. i know. i didn't hear it over the weekend. headline risk was all anybody wanted to talk about on friday. if anybody says that a deal is not happening or it's going nowhere, we could wake up down 15 points on the s&p on monday. guess what? boehner said the deal is going nowhere. now, when i call the bulls on this, they say, bob, they didn't say a deal was off. they just said so far the negotiations are going nowhere. the market still believes that a deal is coming and it's going to be a substantive deal. instead and by the way, geithner insisted on tax rates issues. looks like there may be something happening eventually. we didn't fall apart on the whole thing. even futures weren't down overnight. instead we rally on a little bit overnight on the greek deal and for those that don't kno
CNBC
Dec 6, 2012 2:00pm EST
there is still big news. let us get some with bob pisani. bob, let's step away from our markets for just a second. okay? what is this we hear about the possibility that the italian government could go away? >> it was a problem this morning. mario monty's government has survived the no confidence vote. looks like the italian government is going to survive. you see italian stocks were down throughout the day. the problem about this, the structure of italian politics makes the country ungovernable. brian, there's 12 political parties in the chamber of deputies. that's the lower house. you get coalitions together and they routinely topple the governments. this has been a problem since world war ii. they've got to gig ofigure out better way to govern the country. >>> we've got huge volume today on apple. it will do 40 million shares, probably twice normal. it went positive earlier in the day on that very good news about doing some production of the mac in the u.s. >> they've got too many and maybe we have too few. somewhere in the middle is the answer. bob pisani, thank you. >>> your top stock story t
CNBC
Dec 4, 2012 9:00am EST
that bob toll cited, 1.8 to 2.8 million households fewer since 2007 were formed and that's playing catchup. we should have the formation of those households unrolling now. >> i thought it was amazing. saying the optimism has to do with demographics and not the fiscal cliff. kimberly clarke talkeded abo ee decline in birth rates. i don't shop for diapers. >> i did. not long ago. >> are you out of it? >> tail end. >> such a nice thing. >> amazing statement by them saying, listen, not a lot of people are having kids. >> what about adult diapers? >> there is some household formation in the u.k. we'll get at least one new baby in the u.k. right? >> she's a smart person. i wasn't going sexist there. i know better than that. i'm not going over the sex cliff. >> she's fashionable. >> yes, she is. >> even i know she's fashionable. >> whatever she wears maternity wear, it will be a boost. >> does she go to gsw? i said that was discount. it's designer. and you've got to go there. >> there's one on 79th street. >> gorgeous store. you can go to whole foods and you can buy shoes. may i suggest you do th
CNBC
Dec 5, 2012 12:00pm EST
to the pits to find out, when we come back. bob, these projections... they're... optimistic. productivity up, costs down, time to market reduced... those are good things. upstairs, they will see fantasy. not fantasy... logistics. ups came in, analyzed our supply chain, inventory systems... ups? ups. not fantasy? who would have thought? i did. we did, bob. we did. got it. ♪ you can stay in and like something... ♪ [ car alarm deactivates ] ♪ ...or you can get out there with your family and actually like something. ♪ the lexus december to remember sales event is on, offering some of our best values of the year. this is the pursuit of perfection. heartburn symptoms causedelieve by acid reflux disease. offering some of our best values of the year. osteoporosis-related bone fractures and low magnesium levels have been seen with nexium. possible side effects include headache, diarrhea, and abdominal pain. other serious stomach conditions may still exist. talk to your doctor about nexium. it's easy to follow the progress you're making toward all your financial goals. a quick glance, and you
CNBC
Dec 3, 2012 3:00pm EST
done by the crc. >> so, bob, you say critics like aaa want to kill e-15 because of ethanol? what is your argument? why would they want to kill e-15? >> well, look, there's no evidence to suggest that there are any problems associated with e-15. e-15 has been the most tested fuel in the history of the environmental protection agency. in fact, there were 86 cars tested over three years. the miles driven by those cars are the equivalent of six round trips to the moon. you could not have tested e-15 any more. and the only problems that were found is a couple of deer were killed on the test track. >> okay. let me ask you this, according to aaa -- bob, i want you to tell you whether you believe this to be true or not. according to aa, bmw, chrysler, toyota, nissan do not cover damage under warranty. hyundai, kia, volvo have said e-15 might void their warranties. do you dispute that? >> ford and general motors have warrantied e-15 for 2013 vehicles and on, which is the first year they were able to provide warranty coverage because prior to that the epa did not allow e-15 be sold. prior
CNBC
Dec 6, 2012 9:00am EST
bob moffett t chairman of both companies, mmr, owns a stake in pxp, board seats. it's related. >> and yet, ackerson, did we get hold of him? he's always been very pro shareholder. this is the most anti-shareholder. unless you're a very large shareholder. >> isn't he cynical? >> these guys are different, moffett and our man in chesapeake. >> thank you. they approach the world a little different. >> is it different from you? you're fitzgerald. >> i don't want to say cavalier, but they like to take risks, that's how they built their fortune in the first police, they all take risks. >> i thought if you bought freeport, you were trying to play the grassberg, big copper, the china thing, i didn't know i was getting involved in a high stakes poker match. >> yes. which is why you're selling. >> let's get to bob pisani who's on the floor watch what's moving. >> moffett wants the cash flow from freeport who helped finance the drilling for mcmoran drilling. why did they have to spend 70% premium to buy these things? if i wanted to buy them, i could have bought them a lot cheaper, i wante
CNBC
Nov 30, 2012 1:00pm EST
much. sort of a no deal. closer to the red side. we do still have some time, of course. >>> bob pisani, how are traders down here investing -- reacting to mr. obama and mr. boehner? >> it depends on what the headlines are. so the president said the clear majority voted for a balanced approach. but there's a lot of debate about what that means. representative boehner i thought was much more into fighting words over there. listen to what he said. increasing the tax rates is the wrong approach to take. he said there was a stalemate in the talks with the white house. look at the dow industrials. we did move down around 25, 30 points as his comments came out. he said we're almost nowhere in the talks. sitting right near the lows for the day. if you look at the overall sectors that are moving today, pretty much balanced on either side. pretty much even on the balance-decline line. worries about higher taxes on dividend paying stocks seem to be -- >> lows for the day but not violent downstrokes here. >> i think the problem is we'll have trouble moving into positive territory at the close. a l
CNBC
Dec 5, 2012 2:00pm EST
day in four months. pushing the nasdaq into negative territory. >>> bob, apple is lower than 4% -- we're going to toss it back to brian. >> courtney, hold your horses. >>> but first we've got to get a big development on the fiscal cliff negotiations. at this point we are still just a quarter way to a deal. eamon javers, though, some republicans, call them defectors, call them break-aways, call them independent thinkers, whatever they want, what's the latest here? >> what we've seen just within the past couple of hours is a new letter from some republicans saying they'd like to see all options on the table here. that's a sign that there is some willingness among republicans to have some negotiations. i'm talking to lawmakers here on the hill who say it probably strengthens speaker boehner's hand to go out and make a deal with the president. we've seen some rancor in the ranks on the right from the speaker dealing with sort of an insurrection yesterday. this might give him a bit of wiggle room for negotiations. i want to show you this video here. this is members of congress departing ca
CNBC
Nov 29, 2012 2:00pm EST
at what's happening out there in the markets. bob pisani is covering today's wild swings. eamon javers is on the political back-and-forth. bob, start with you. as we saw the market got boehner, then got schumered to the up side as well. what do you think the market wants to hear from these guys? >> two things. very simple. they want a deal within the next -- end of month of december and it has to be substantive. there's two parts . a deal soon and it has to be substantive. boehner came out 11:30 eastern time said no substantive progress is made. that's what happens to the smasht. then the democrats started talking, senator schumer came out and said he was confident a deal would be reached by christmas. the market goes up. that's the deals we're looking for. bottom line is this -- the market believes something is going to happen because it's been holding up extremely well. remember all those concerns about higher taxes on dividend? the dow utilities bottomed several weeks ago. okay, it is not a gigantic move but the slope has been upward. utilities are among market leaders today. all ri
CNBC
Nov 29, 2012 4:00pm EST
appreciate it. let's find out what moves the traders are making ahead of the fiscal cliff. bob now with ubs's art cash. over to you, bob. >> hello, maria. art, even though we're being smacked around by the usual l fiscal cliff headlines, the market still advanced today. actually, fairly broad. almost three to one. >> well, the market is looking at the calendar. it wants to hear sleigh bells. it wants to believe a santa claus rally is lurking there. the other thing it finds comfort in is it believes that as fractious as things can be, that the leaders in washington have learned their lesson. that the wrong word can move markets and they will be somewhat careful, that nobody will produce anything like the 500-point selloff in the t.a.r.p. vote. they think there's a minor protection there. nevertheless, we're in an age of auditory lottery tickets. whoever gets to the microphone swings things. >> yet, they believe that, number one, it's coming soon, that something is going to happen in december, and it's going to be a credible plan, something that's a real down payment that won't trigger some k
CNBC
Dec 3, 2012 4:00pm EST
and yahoo! have a business alliance to share and co-produce editorial content and gordon along with bob pisani. gordon will be along momentarily. michael, let me start with you. you say this market's preoccupation with the fiscal cliff is overdone. do you think we go back to the trend and that is that december is a good month on the upside for stocks? >> definitely one of the tail winds. all else being equal, probably definitely a strong point for the market. i think this market is laboring to look through the interim noise. you had decent pmi numbers, with the ism disappointing and i think the market is trying to assimilate all this. one thing i take encouragement from, things like junk bonds, small caps have not been phased, treasury yield has not collapsed. that means the economic outlook is not being downgraded with asset markets the way you might expect if they really feared the fiscal cliff was going to hit. >> we certainly don't think consumers are fearing the fiscal cliff because they keep buying and buying ahead of the holidays. >> bob, let me get your take on this. before you
CNBC
Dec 4, 2012 4:00pm EST
of washington. joining us right now, keith springer, abbigail doolittle, and our own bob posani. keith, let me get your take on the cliff here and on what's to happen in terms of the markets. do you expect the economy to go over the fiscal cliff? what kind of reaction might we see in the market if that were to materialize? >> well, if we saw the market sell off in a big way, i don't think anybody believes we're going to go over the fiscal cliff. there will be some sort of resolution. they'll come up with some tax cuts, some breaks in spending, and probably kick the can down the road on a lot of it. i love the way this market is acting. it's not selling off with all the bad news, all the bickering, all the bad words on each side. you've got to love the way that this market is holding up here. doesn't mean investors need to be carefree, but overall, it looks like the market is setting up with a lot of negative sentiment out there. looks like there's a lot of opportunity for a big run higher once we get some form of resolution. i really believe we're going to get it. >> you think by year end? >>
CNBC
Dec 5, 2012 4:00pm EST
? don't be modest, bob. you found a better way to pack a bowling ball. that was ups. and who called ups? you did, bob. i just asked a question. it takes a long time to pack a bowling ball. the last guy pitched more ball packers. but you... you consulted ups. you found a better way. that's logistics. that's margin. find out what else ups knows. i'll do that. you're on a roll. that's funny. i wasn't being funny, bob. i know. >>> welcome back. we're talking with maya macguiness. let me get your take on this final question. number one, two-part question. do we need to cut medicare in terms of really getting our arms around the debt of this country? number two, if we don't get our arms around the debt and lower the debt and deficits of the u.s., what are the implications for our kids? what are the implications for the economy? give it to us straight. >> there's no question that the most important challenge for us to tackle here is controlling health care costs. medicare is at the center of it when it comes to the budget. we're going to have to do as much as possible to get on top of the fact
CNBC
Dec 6, 2012 4:00pm EST
after yesterday's big selloff. i want to get to bob here with a look at the big moves before we take a break. over to you, bob. >> we hit the one-month high on the dow, maria, led by some of the tech stocks like ibm and intel. apple was the big story. we ended positive, but just barely. apple, $50 lost in the last two days. today, huge volume. 40 million shares. that's twice normal. company telling nbc, brian williams, they'll start building some mac computer lines here in the united states. big interview on that tonight. let's take a look at some of the computer hardware stocks. nice turn around. remember that disaster with dell and hewlett a few weeks ago? they've been moving up in the last several days. look at this move and this turn around. apple to the downside. all the others in the month of december to the up side. how about the airlines? new high for the airline index. jet fuel costs are low. capacity is constrained. i'm hearing booking is returning to normal after sandy, after a hit for them. those stocks up. u.s. airways up. southwest has been on fire recently. finally, th
CNBC
Dec 6, 2012 7:00pm EST
#: 1-800-345-2550 well, if itmr. margin?margin. don't be modest, bob. you found a better way to pack a bowling ball. that was ups. and who called ups? you did, bob. i just asked a question. it takes a long time to pack a bowling ball. the last guy pitched more ball packers. but you... you consulted ups. you found a better way. that's logistics. that's margin. find out what else ups knows. i'll do that. you're on a roll. that's funny. i wasn't being funny, bob. i know. >>> have you noticed that the experts may be pessimistic worrying about the fiscal cliff, but the global stock market may be on a tear? let's look at some of these numbers. this is great stuff. hong kong is up 19%. this is in the past year. german dax up 25%. the french cac up 11%. thailand up 43%. japan up 6%. year to date, the usa is up over 12%. that ain't bad. let's bring in our pal, jim iuor iuorio. you know, jim, it's turning out to be a very good year and it's turning out to be a very good year on a global basis. >> no doubt about it. but let's break it down. japan's stock market has rallied huge because of promi
CNBC
Dec 3, 2012 1:00pm EST
at the end of the year as a lot of retail investors want to put money to work. back to you. >>> back to bob pisani here on the nyse floor. we're down 30 points. couple of the guys came by the post and said let's see what happens at 2:00. the president is going to take to twitter. if you listen to the sunday talk shows it sounds like there is no movement whatsoever. >> yet it's not killing the markets. it's surprising a lot of people, i think. we're not moving to the downside that dramatically. about even on the advance-decline line. the dow jones industrial average was at a multi-week high this morning as we opened up. we were down 12,500 two weeks ago. so not bad sideways today. not bad at all. i think the concern is the ism number weakened the market baltimore than the fiscal cliff propped up by greece. tech has not had a very good run recently. up today, dell got an upgrade at goldman. sharon talked about gold. it may be that gold has not done too bad this year but gold stocks are not outperforming. again today they are on the downside. this has been a year of buying gold, not so much bu
CNBC
Dec 6, 2012 1:00pm EST
over the past few days alone. our bob pisani joins me here on the floor of the nyse. what are you hearing from traders? the market is drifting a little bit. the focus is on apple. there seems to be a little bit of enthusiasm that it can come back to the up side. >> we were up a little while ago, now we're down. i think what happened, the senate majority leader harry reid came out with a couple of comments. he said any program, any deal that's out there must include a stimulus component -- really? a stimulus component? he said rates have to increase to 39.6% as part of any deal. the dow drifted lower on that because people were arguing you should have a 37% as a compromise on the tax rates. >> mr. geithner yesterday when speaking exclusively to steve leisman seemed to really avoid that 39% number. that encouraged a lot of people thinking that perhaps that is a flexible number. >> let's hope it is. but the senate majority leader says -- specifically said 39.6. i think that's specifically the reason we took a little bit of a dive a while ago. either side are positive or negative. but
CNBC
Dec 5, 2012 11:00pm EST
all she's got, and just like spock, they want you to live long and prosper. bob in florida, bob? >> caller: hey, big boo-yah to you, cramer. >> right back at ya. >> caller: first thing i want to do is thank you quick for all you do to demystify the market for people. >> that's my goal. thank you. >> caller: i'm guessing i'm not the only senior citizen living on social security that depends on a portfolio of dividend stocks as a supplement. i'd like to get your take on the future of the income stream that took me so long to create. with one stock in particular, windstream. >> i'm worried about windstream. and i read a lot of the analyst reports and they say, listen, you should be worried. when i have everyone telling me to be worried, i'm not someone who whistles past the graveyard. i say ain't worth it. >> sell, sell, sell. >> john in new york, please, john? >> caller: hey, how you doing, jim? i was wondering how you feel about nokia being that they signed on to china mobile. >> everyone's all of a sudden very excited about nokia. it's on a run. i understand a $3 stock can go to
CNBC
Nov 30, 2012 2:00pm EST
of the fiscal cliff. we're not seeing big moves. people unwilling to take bets. we're going to get to bob pisani in just a minute. >>> but first we need to get to eamon javers with some breaking headlines from mitch mcconnell on the fiscal cliff. eamon? >> brian, we're getting a trial balloon here just within the past couple of minutes from mitch mcconnell. he's the senate republican leader responding now to the president's proposal of yesterday. mcconnell telling the "wall street journal" just within the past few minutes what he had's like to see are changes to ensitelement programs, he's floating the idea of means testing medicare and social security. that means that the rich would not be able to receive the same level of benefits that the poor would from those programs. that would save some money. he would also like to see some retirement age extension. obviously both very controversial in democratic circles. but mcconnell saying that is the price that republicans are going to demand if they're going to talk about new tax revenue. now speaking of new tax revenue, we just saw president obama i
CNBC
Nov 30, 2012 9:00am EST
names. >> it's extraordinary. there is tremendous wealth in this country. yesterday bob pisani has been tallying the amount of money that's been given in dividends. it's not a great deal in the overall scheme of things. sandy continues to make me feel these numbers are too difficult. i find them unfathomable. the speech is about way too much unemployment and very unfathomable in terms of the actual destruction. you got numbers from two different governors. they are unusually low. i don't trust any number during this period. >> especially the number we'll get a week from today which estimates for nonfarm are not that good. 75 maybe. sandy will continue to ring in our ears for the next few weeks. >> and then i believe you're going to get when you get supplies rebuilt and enough bricks and enough lumber. did you see that lumber hit a six-year high yesterday. >> wow. >> copper. a lot of people talking about short buy on copper. everyone saying it's about china. a lot of copper comes from scrap and the scrap in the northeast where there's a huge amount of copper, it's extraordinary. a lot of
CNBC
Nov 30, 2012 4:00pm EST
higher next year. >> bob, this activity at the close today, you surprised at what happened? we had $3.6 billion in stocks to buy at close. we went all the way up only to come back down. >> great volume, by the way. we're going to do 1 billion shares here on the floor. that's a very rare day. normally we do about 600 million. what happens in these imbalances is the indexes are reweighed. you're simply moving around the money that's in the index in the different stocks themselves. you might get a little changes in the stocks, but the whole pot stays relatively the same. i was very encouraged today, maria. encouraged when you saw very little movement in the stock market in the middle of the day when representative boehner came out and said they'd gone nowhere on the talks. senator mcconnell described the white house offer as comical. that normally would have moved stocks down, but it didn't. i think that's a sign a lot of people believe a deal is coming. >> rick santelli, what's your take? >> i think there's no volatile ty on boehner's comments because geithner's comments were out there
CNBC
Dec 5, 2012 3:00pm EST
to explain about that. plus, we have bob from jones day who specializes in wall street deal making. jeff, it is ammo on wall street to do things behind closed doors. you don't want word to get out on the negotiations. it gets too messy. >> right. i wouldn't advocate for a lot of people to do what wall street does. one thing you can say is they've helped facilitate thousands of mna deals this year. they've figured something out with these transactions. the deals that are most successful have the better chance of success are the ones that you negotiate behind closed doors, not the ones that turn into hostile battles and spill out into public, which is what we're seeing noup. >> i understand that, but at the same time, what wh are we going to have a deal already? people are so frustrated by this. we've had 13 months to think about. now we're down to 26 days. bob, can you really make a deal on the fiscal cliff when the negotiation is out in public? do you think we'll get a deal done? that's what everybody wants to know. >> if everybody thinks we ought to get to a deal, we'll get to a deal. t
CNBC
Dec 5, 2012 9:00am EST
away. we miss him. >> rest in peace. >>> let's check in with bob on that note. hey, bob. >> china. finally something from the leadership. we have been waiting for weeks, months, remember, everyone has been waiting for them to try to find where their desks are and find out where they can live and where they can stay and sit down and get used to the furniture and look around and say what are we going to do with the economy. we've been waiting no comment. we got comment from the party chief who made a speech in beijing and talked about what was going on. he used words like expanding domestic demand. used words like supporting urbanization. this is what everyone wanted to hear. those are buzz words. those are code words for stimulus. that's what the market is reacting to today. 2% move up in china in shanghai and even hong kong stocks. they moved together. this hasn't happened in a long, long time here. the bottom line is we're finally starting to hear from the leadership. they found their offices and things are starting to move and that is certainly very, very good news because now t
CNBC
Dec 5, 2012 6:00am EST
tuned. well, if it isn't mr. margin. mr. margin? don't be modest, bob. you found a better way to pack a bowling ball. that was ups. and who called ups? you did, bob. i just asked a question. it takes a long time to pack a bowling ball. the last guy pitched more ball packers. but you... you consulted ups. you found a better way. that's logistics. that's margin. find out what else ups knows. i'll do that. you're on a roll. that's funny. i wasn't being funny, bob. i know. or that printing in color had to cost a fortune. nobody said an all-in-one had to be bulky. or that you had to print from your desk. at least, nobody said it to us. introducing the business smart inkjet all-in-one series from brother. easy to use. it's the ultimate combination of speed, small size, and low-cost printing. nespresso. where i never have to compromise on anything. ♪ where just one touch creates the perfect coffee. where every cappuccino and latte is only made with fresh milk. and where the staff is exceptionally friendly. ♪ nespresso. what else? >>> let's get final thoughts from our guest host. greg fle
CNBC
Nov 30, 2012 3:00pm EST
for credit investors. they still want to buy this debt. >> bob, what do you make of what's going on on the floor today? are these companies outperforming right now? >> the short term, yes. i'll tell you what the problem is. it's been very difficult to actually pick the companies and get them right. it's only really been a small handful, particularly the ones that have moved from january to december. walmart is the big one. there haven't been an awful lot of others. here's the good news. there's a drop date. people say it's about december 17th. if we get nothing happening by december 17th, there's going to be a flood of companies that are either going to do special dividends or move the dividend of forward from january into december. you're not going to have to pick it. you're just going to see it move forward here. i think that's the good news. >> we're running the list of companies. looks like a k-tell commercial. >> in the universe of stocks, it's still not an enormous number. >> what's the downside, steve? here we are on the edge of this fiscal cliff. a lot of people say if we
CNBC
Dec 3, 2012 7:00pm EST
of a firearm. so the suggestion by bob costas who ought to be fired for the comments, his outrageous suggestion that the civil rights of americans all 300 million of us should be taken away and we should be denied the right to own a gun that would be the only way to take it away from jovan belcher is to say no one can own a gun other than military or police. that's an outrageous suggestion. costas ought to be fired. >> larry it's ridiculous we're talking about firing a guy for trying to start a debate about how to control guns in this country. >> i don't want to talk about -- i want to leave the costas situation alone. he said what he said. what i want to talk about igor is the issue of violating the second amendment or greater gun regulation would have stopped this? i mean the question i have -- look, this guy was a big drinker. he suffered concussions. he use ad lot of pain killers. clearly, clearly he had huge mental and physical problems. how would the gun thing have played out if he couldn't have got end it? >> we don't know about this one case but we do know is in cases of domestic abuse
CNBC
Dec 4, 2012 9:00pm EST
, and you didn't know how to get it out. >> welcome to 60 minutes on cnbc. i'm bob simon. in this edition, we look at the life of tech titan steve jobs, the cofounder of apple, and we also examine the unexpected impact that one of his inventions, the ipad, is having on children and parents living with autism. in 2004, jobs asked walter isaacson, a former editor of time magazine, if he would write his biography. isaacson thought the request premature since jobs was still a young man. what he didn't know at the time, and only a few people did, was that jobs was about to undergo surgery for pancreatic cancer and was feeling his mortality. in 2009, with jobs already gravely ill, isaacson began the first of more than 40 interviews with him, the last being conducted a few weeks before his death. as steve kroft first reported in october 2011, the result was the best-selling book of the year. >> when walter isaacson first began working on the book-- which is published by simon & schuster, a division of cbs--steve jobs' wife, laurene powell, told him, "be honest with his failings as well as his st
CNBC
Nov 29, 2012 1:00pm EST
on the trading floor. bob pisani's here with me. once again -- >> the fiscal cliff circus continues. we're going along, it is nice and quiet day. then of course look at the dow jones industrial average. 1,130 or so. speaker boehner, head of the house, said no substantive progress made in talks with the white house. stocks dropped on those comments. there's that drop in the middle of the day. we came off around noon, that's when the democrats started talking. senator charles schumer of new york, among others, saying he was confident a deal could be made by christmas. stocks rose. you get the idea? stocks up, down, whoever says anything in washington. fact remains this is a pretty good market. 2.5 advancing stocks to deep kleining stocks. that's pretty good. look at advances. when you get a market where health care an materials an financials are all up, although fracti fractionally all of them are up, that's a nice advance for markets overall. not so great for retailers. there is serious damage today. kohl's down 10%. you don't see these stocks move 10%. tiffany's missed. that's a big move in tiff
CNBC
Nov 30, 2012 6:00pm EST
there was a time when bob toll of toll brothers and eagles fan came on "mad money" during what turned out to be the early part of the housing collapse. he said he saw the light at the end of the tunnel. but it was most like lit light of an on-coming train. those days are gladly behind us. i suspect the toll tells a story that it goes down the fiscal cliff monday. every day is fiscal cliff tuesday, wednesday, thursday. you get the picture. anyway, you should pull the trigger here to buy it here if the fiscal cliff does what i'm afraid of. brown foreman reports wednesday. this is an interesting one. why? because goldman downgraded it to sell. just last night. i've seen this movie. they were wrong last time. they'll be wrong again. i'm going to bet them a bottle of jack daniels that will be the case. in fact i'll bet them a case of jack daniels that will be the case. if they're close, as we told you we like asina. and i would be willing to be a buyer of that niche retailer ahead of this quarter because of some merger gains i think we'll hear about. but again only on news of setbacks to the f
CNBC
Dec 4, 2012 1:00pm EST
about 18% year to date. back to you. >> thanks so much. bob pisani is here on the floor of the nyse, steady as she goes, caught in the narrow range today. >> sectors either side of positive or negative, a few individual groups are meeting, i want to highlight, a lot of questions about the retailers. historic high yesterday a number very weak. a lot of questions on gap. the reason gap is down is made some very cautious comments on gap, citing competition concerns, specifically talked about kohl's high inventory level that might cause them to be aggressive with promotions. weather unseasonably warm, not good for apparel. consumers hesitant. dashed.came out cutting guidance, own red lobster, cited consumers out there. playing in with the slight consumer slow down trend, see the notable restaurants down three 3, 4 or 5%. finally, sue, the bank index dropped here today and i can telling you the reason for that one today. elizabeth warren named the senate banking committee. ms. warren is a leading supporter of being very aggressive on banking regulation. the minute we sort of got confirma
CNBC
Dec 4, 2012 2:00pm EST
gains and losses. bob, i don't want to begin with the macromarkets. i want to begin with the retailers. yesterday, the s & p retail index hit a record high. today, not so much. >> i think that is a sign of a little bit bit of concern going on. show what you has been going on. a lot of the big retailers are weak today. comment specifically on gap but noted, for example that kohl's had very high inventory levels and a concern that might make the season more promotional and specifically affect gap. see it down 7%. other names weak as well a lot of retailers down 1 to 2%. show you what the cracks in retail, think cracks in the consumer overall here but we have got short interest increasing. that hasn't happened in a while. the weather's been unseasonably warm. the comps in 2013 a lot tougher because we'd great first quarter of 2012. and the consumer may be a little bit more hesitant. mandy, along the consumer lines, did you see what darden restaurant also to say, quite surprise, they are very good at managing their company and they came out, said they were disappointed by the recent promot
CNBC
Dec 3, 2012 2:00pm EST
it is slightly lower. let's get out to bob pisani. so much for december being a good month for stocks. >> well, we're just starting out but the big story i think is that no progress on the fiscal cliff. it is not bothering stocks yet. it will soon but as of today it is not. instead it was the rather poor i scht m number that came out, lowest since july 2009. just off the lows for the day. i think the important thing is if you look at sectors here, transports, materials, all the risk-on trades, industrials, all to the downside. getting a modest up side from technology stocks as dell got an upgrade today. >>> finally i just want to point out, another day gold is up, gold stocks are to the downside. this has been going on for a long time. take a look here. there's gold for the year. there's gold stocks. look at this underperformance for gold stocks. this has been happening because people more and more are putting money when they want to be in gold and inflation into the gold directly rather than the gold stocks. again this has been a trend for a while now and it is accentuated. general motors, ev
CNBC
Nov 29, 2012 9:00am EST
good one. >> thank you, bob. >> shadow inventory, that's down, copper developing, you can't get the copper. a lot of things happening that are very bullish. let's go to rick santelli. >> gdp like the employers considered a big one. you can see that around 8:30 eastern, you had every so slightly an uptick in rates. we had a rather large division in our second look at quarter gdp. some interesting stories explaining where that came from. the inventory is good and you build it up and -- i would have expected we would have had a much bigger selloff in treasuries. last time we had the initial report on october 26, first look at third quarter gdp, when it was released at 2%. the chart shows we were down close to ten basis points, why? because that was considered somewhat weak, even at 2%. so the argument goes, why did we get such a small reaction on a big upward revision? a, the market may not believe it. b, we might be in a new realm of gdp, it's always a big number when it's released. we're halfway into the fourth quarter. finally, let's look at an intraday chart of the euro versus
CNBC
Dec 3, 2012 6:00am EST
, that was you and me and we were driving bob michael and president bush nuts when the democrats were offering them, give us the tax increases now, we'll give you the spending cuts later and we were saying, oh, no, they'll never keep their word on the spending cuts. they'll tax the tax increases. quite frankly, the speaker has a difficult role to play here. he's seen by so many people as the principal guardian of our liberty and of sound economic policy within the context of the majority senate that frankly just think it's good for the country for the government to be bigger. the government is counterproductive to the performance of the rest of the world. >> thank you for coming on. >> i would respectfully suggest that the government is grown too big, promised too much and waited to long to restructure, but it's not too late. and i would also respectfully suggest that both political parties are responsible for that. >> absolutely right. >> we need comprehensive tax reform. and what i'm concerned about is that we're not differentiating between this fiscal cliff, it's the symptom, and the diseas
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